What appears to be a “new player” starts flipping $50,000 to resistance after some brief Christmas cheer for Bitcoin bulls.

Bitcoin (BTC) lost $50,000 for the first time in several days on Dec. 26 as exchange inflows caught up with the cautiously optimistic mood.

“New player” beefs up $50,000 sell wall

Data from Cointelegraph Markets Pro and TradingView showed volatility hitting BTC/USD overnight on Saturday.

The pair had reached $51,500 before starting to retrace, this culminating in a dip to $49,644. At the time of writing, Bitcoin was back circling $50,000.

The move came in tandem with a rise in inflows to major exchange Binance, with order book data showing a new wall of resistance being built at $50,000.